Data for the company are assembled as follows: Nov 30December 31Cash Account BalanceP 1,017P 2,427Bank statement balance53536891Undeposited collections410644Checks outstanding13851505Bank service charges for the month, not shown on the company books3630Bank charges for NSF checks, not shown on the company books215412Collections by bank from the company customers, not shown on the Company books36124,045 Tapes for bank and company cash data offer the following totals:Deposit and credit memos per bank statement, P 12,455Cancelled checks and debit memos per bank statement, P 10,917Cash receipts per cash book P 8,644Checks written per cash book P 10,595 How much is the adjusted Cash Balance on November 30?

The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Answered: Data for the company are assembled as…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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Data for the company are assembled as follows:

	Nov 30	December 31
Cash Account Balance	P 1,017	P 2,427
Bank statement balance	5353	6891
Undeposited collections	410	644
Checks outstanding	1385	1505
Bank service charges for the month, not shown on the company books	36	30
Bank charges for NSF checks, not shown on the company books	215	412
Collections by bank from the company customers, not shown on the Company books	3612	4,045

Tapes for bank and company cash data offer the following totals:

Deposit and credit memos per bank statement, P 12,455

Cancelled checks and debit memos per bank statement, P 10,917

Cash receipts per cash book P 8,644

Checks written per cash book P 10,595

How much is the adjusted Cash Balance on November 30?

Definition Definition Financial journal in which only cash-related transactions are recorded. Cash transactions are posted chronologically in the cash book, which is also called a subsidiary book. All the cash receipts are recorded on the debit side and all the cash payments are recorded on the credit side. An important point to remember is that the cash book never shows a credit balance; only a debit balance is shown in the cash book.

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